GoPro Inc Redefines Its Strategy

After a rough start, GoPro now wishes to redeem itself by altering its strategy and coming up with affordable products.

GoPro Inc. has been facing a tough time with where now it seems that the action camera giant is diverting its focus and is targeting a different set of consumers this holiday season. The core focus of company is to consider affordability during the current trimester. As per the company’s official news, they are all set to announce a camera that will be known as GoPro Hero+. This October, its approach is customer centric targeting affordability. The new Hero+ is said to be priced at $200, which is the second cheapest offering after Hero that is now being retailed at $130. GoPro itself calls Hero as the most basic camera and ideal for those who wish to experiment. Like all its devices, it will also have user-friendly features, such as QuikCapture, along with supporting 1080p30 and 720p60 video. In comparison to this, Hero+ is likely to have more up to date features. When it comes to functionality, there is no significant difference between Hero+ LCD and Hero+ except that the former costs $300 and has a touchscreen. The Hero+ camera will record at 1080p that depict 60 frames-per-second along with Bluetooth and Wi-Fi capabilities. Apart from this, GoPro recently announced that it would slash $100 from its popular Hero 4 camera that looks similar to a cube and is waterproof. Therefore, this actually means the price of Hero+ LCD and Hero 4 is now same. When it comes to the size, Hero 4 is relatively small and more user friendly to Hero4 Silver that is retailed on the same price for significantly weak sales. The reason why the company is strategizing is that it has received feedback from consumers and sellers where both demand a price cut. Many investors are now backing from GoPro stocks merely because there are several concerns regarding the weak sales graph of Hero 4 Session. In just a matter of a month, GoPro stock price has surged by 37% when comparing to NASDAQ and S&P 500 that have both declined by 4%. Apart from this over the past five days, GoPro stocks have gone down by 5% merely because of the report published by Barron. The report stated that the firm is likely to give up on a substantial chunk of its profit mainly to competitors that manufacture smartphones. According to investors, it is also believed that the sales of GoPro have peaked. Many analysts also believe that the reason behind the entry of a new product along with price cuts actually indicates that its management is still skeptical about staggering growth.